“Apple has missed several recent chances to break above resistance, and last week I cited a potential bearish formation developing on its chart,” Bryan McCormick reports for optionMONSTER via Yahoo Finance. “That pattern has evaporated, however, and today a bullish one may be replacing it.”
“The pattern isn’t active yet and won’t be until it breaks above resistance, shown by the red horizontal line at the $396 area,” McCormick reports. “A move above that price would trigger the formation.”
More info and the chart in the full article here.
[Thanks to MacDailyNews Reader “jmmx” for the heads up.]